On June 1, the board of directors declared a $100,000 cash dividend to be distributed to common stockholders of record on June 15. The dividend will be paid on July 1. The required journal entry on June 1 includes a 2. $100,000 credit to common stock. b. $100,000 debit to retained earnings. C. $100,000 credit to cash d. $100,000 debit to dividends payable